As we approach 2019, Spotify is tightening its grip to launch in India. T-series a mega giant record label company in India recently announced a contract with Spotify. Spotify India Launch is all set as Managing Director of T-series Mr.Bhushan Kumar has confirmed that T-Series is accomplishing jointly with Spotify. In an interview with ET, Bhushan mentioned
“We are in the final stages of negotiations for a two-year deal. Our music will be available in the international markets on Spotify in the first quarter and later in India when they launch here.”
Spotify CEO Daniel Ek beckoned India as a “major market” and shared his plans to launch Spotify in India. Reports suggest that the company already established a headquarters in Mumbai along with 300 employees.
Spotify India Launch
As Spotify grows in the Asian market, the company would attract many investors. The company’s stock has fallen around 30 percent since July. The company has been placing the foundation in India for some time. Spotify’s India operations have suffered some hurdles.
As part of a more considerable dispute that emitted after Spotify opened itself to acquiring song rights directly from musicians, major record labels threatened to reserve their rights from Spotify. Although the company didn’t seem to care much and proceded with its expansion, striking deals with major labels in the country. One of which is T-Series.
The music label operates as the most-watched YouTube channel in the world and puts its music up there before it appears anywhere else. Other record companies, including Sony Music, declined to comment.
Spotify is launching up its international expansion and just introduced itself into 13 territories in North Africa and The Middle East. However, none of those will provide as large a market like India, one of the three largest music markets in which Spotify does not yet operate.